The working silversmiths William Pitts (1755-1818), son of Thomas Pitts (1721-1795), and Joseph Preedy (1750-1828) formed their partnership in 1791, entering their first mark on 11 January that year from 26 Litchfield Street, Soho. They moved about August 1795 to nearby 8 Great Newport Street where, on 14 December 1799, they dissolved their partnership. While Pitts moved to 15 Little Wild Street, Lincoln's Inn Fields, Preedy remained at Great Newport Street until he was obliged to leave, probably in December 1808. It was during that month that the lease was advertised for sale by Willcock, the auctioneer of Golden Square, Soho. The brief description of the property makes interesting reading: 'A Substantial, well-built LEASEHOLD HOUSE, situate No. 8, Great Newport-street, near the top of St. Martin's-lane and Long-acre, containing three rooms on each floor, with convenient offices, an inclosed court in front, with yards and spacious workshops behind, late in the possession of Mr. Preedy, but now untenanted.' The building was later described as 'extensive and eligible.' (The Morning Post, London, Monday, 12 December 1808, p. 4d; The Weekly Dispatch, London, Sunday, 22 June 1845, p. 8d) Preedy, with debts exceeding £1,500, was removed to the King's Bench Debtor's Prison in Southwark. (Journals of the House of Commons, 30 May 1809, p. 359a; The London Gazette, London, 24 June 1809, p. 962b) By contrast, Pitts's business continued to flourish; several pieces from his factory were acquired (via Rundell, Bridge & Rundell) by George IV, including a silver-gilt tankard in 1812 for which he paid £192 3s. 6d.

From their surviving work, it is clear that Pitts & Preedy mainly specialised in the manufacture of candlesticks and candelabra, baskets and epergnes and centrepieces. Both diversified after they went their separate ways although it is thought that Preedy continued to use the same patterns and may even have retained the services of a modeller whose figures and other details are so familiar in some of Pitts & Preedy's output. This is especially apparent in what may be Joseph Preedy's most significant work: The Islington Cup. Preedy, justly proud of this remarkable object, made in 1802 and not seen again in public until sold by Replica Shoes 's at Gleneagles Hotel on 26 August 1971 (lot 144), published the following newspaper advertisement:

'MR. PREEDY, No. 8, Great Newport-street, Long-Acre, having made a most elegant SILVER CUP, for the late Corps of Loyal Islington Volunteers, to be presented to their Lieutenant-Colonel Alexander Aubert, Esq. has obtained permission of the Committee for managing the same, to exhibit for a few days previous to its delivery; he therefore begs leave to acquaint the Nobility and Gentry, that it will remain at his house for their inspection, until SATURDAY, the 15^th inst. - Jan. 5, 1803.' (The Morning Post, London, Thursday, 6 January 1803, p. 1b)

The names of William Pitts and Joseph Preedy were all but forgotten until the publication in 1878 of the first edition of W.J. Cripp's Old English Plate in which the author cited two objects bearing their mark in his 'Chronological List of The Articles of Plate which have served as authority for The Construction of the Tables of Date-Letters used at Goldsmiths' Hall, London, and for the Makers' Marks.' These were a 'Small stand, with festoons and medallions,' 1790/91, belonging to the Earl of Ducie, and the London Mercers' Company's 'Epergne and plateau,' 1794. Thanks to Cripps and later authorities, Pitts & Preedy's silver has become more or less familiar to a wider audience. And in 1946, in its 'Christmas is Everything Beautiful' advertising campaign, Chicago's department store, Marshall Field & Company set the final seal of approval when it offered 'RARE GEORGIAN SILVER by celebrated craft.mes n [as a] Superlative gift, testimony to exquisite taste!' Among the items in their Georgian Silver Room, 'just received from London,' were examples marked by Paul Storr, Matthew Boulton, William Pitts and Joseph Preedy above an illustration of one of the latter's 1791 epergnes. (Chicago Daily Tribune, Chicago, Friday, 6 December 1946, p. 29)